MOSCOW, January 11. /TASS/. The board of directors of Severstal will consider the possibility of paying dividends this year at its next meeting, Chief Executive Officer Alexander Shevelev told TASS, adding that the company is financially stable.

"It is highly probable as the issue is relevant for all, and indeed, the company is financially very stable. That is why we expect the board of directors to consider such a possibility at the upcoming meeting and take a decision," he said when asked whether the company would decide to pay dividends this year.

Severstal last paid dividends for 9M 2021 in the amount of 85.93 rubles per share.

Severstal is a vertically integrated steel and mining company and one of Russia’s largest steel producers. The Cherepovets Steel Mill is the company’s key asset. Its production capacity roughly totals 12 mln metric tons of steel per year.

Chairman of the board of directors Alexey Mordashov who holds 77.03% of shares, is the main shareholder of Severstal. The remaining stock is in free float.